HOUSTON, Sep. 27, 2016 /PRNewswire/ — Western Gas Partners, LP (NYSE: WES) today announced it has entered into a new commercial arrangement with SWEPI LP, a subsidiary of Royal Dutch Shell plc(“Shell”) to gather and process natural gas through its owned and operated midstream assets in theDelaware Basin. Under the terms of the new fixed-fee agreements, WES will provide gathering, processing and related services to Shell for a minimum period of 20 years. In addition, Shell has dedicated gas from certain wells and acreage in the basin to WES’s assets for the term of the agreements.
“I am very pleased to announce that we have entered into a new long-term relationship with Shell, a significant producer and acreage holder in the prolific Delaware Basin,” said Donald R. Sinclair, Chief Executive Officer of WES. “This agreement enables us to provide midstream services to another top-quality producer in the region as we continue to expand our best-in-class gathering and processing footprint in West Texas.”
Western Gas Partners, LP (“WES”) is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation to acquire, own, develop and operate midstream energy assets. With midstream assets located in the Rocky Mountains, the Mid-Continent, North-central Pennsylvania andTexas, WES is engaged in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as for other producers and customers.
Western Gas Equity Partners, LP (“WGP”) is a Delaware master limited partnership formed by Anadarko to own the following types of interests in WES: (i) the general partner interest and all of the incentive distribution rights in WES, both owned through WGP’s 100% ownership of WES’s general partner, and (ii) a significant limited partner interest in WES.
This news release contains forward-looking statements. Western Gas Partners believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. These factors include the ability to perform under, or profit from, the new SWEPI LP contract; ability to meet financial guidance or distribution growth expectations; the ability to safely and efficiently operate WES’s assets; the ability to obtain new sources of natural gas supplies; the effect of fluctuations in commodity prices and the demand for natural gas and related products; the ability to meet projected in-service dates for capital growth projects; construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures; and the other factors described in the “Risk Factors” sections of WES’s most recent Forms 10-K and Forms 10-Q filed with the Securities and Exchange Commission and in its other public filings and press releases. Western Gas Partnersundertakes no obligation to publicly update or revise any forward-looking statements.
For more information about Western Gas Partners, LP, Western Gas Equity Partners, LP, and Western Gas Flash Feed updates, please visit www.westerngas.com.
Western Gas Contact
Jonathon E. VandenBrand
Director, Investor Relations
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